BOK's Lee: Decision to cut rates was not unanimous - Bloomberg

The Bank of Korea (BOK) on Wednesday cut the benchmark interest rate by 25 basis points to 1.25%, as expected. 

The decision to cut rates, however, was not unanimous, Governor Lee Ju-yeol said, according to Bloomberg. 

Two members were in favor of keeping the interest rate unchanged at 1.5%. 

Key points from policy statement

Economic growth to be under July projections.

CPI to move below July projections for a while.

The bank will judge whether to adjust the degree of policy accommodation and observe the effects of two rate cuts.